Alaska Air Group Rating Increased to Outperform at Imperial Capital (ALK)
Alaska Air Group (NYSE:ALK) was upgraded by investment analysts at Imperial Capital from an “in-line” rating to an “outperform” rating in a note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $70.00 price target on the stock, up from their previous price target of $63.00. Imperial Capital’s price target would indicate a potential upside of 11.64% from the company’s current price.
The analysts wrote, “We are upgrading our rating on ALK share to Outperform from In-Line and raising our one-year price target to $70 from $63 as recent stock underperformance seems unwarranted, in our view. Our price target is about 11% above the recent share price. We believe Delta’s increasing presence in the Seattle market likely represents a net positive for Alaska Airlines.”
Shares of Alaska Air Group (NYSE:ALK) traded up 1.63% on Tuesday, hitting $63.72. The stock had a trading volume of 192,162 shares. Alaska Air Group has a 52-week low of $36.90 and a 52-week high of $68.00. The stock has a 50-day moving average of $61.37 and a 200-day moving average of $59.65. The company has a market cap of $4.452 billion and a P/E ratio of 12.82.
Alaska Air Group (NYSE:ALK) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.47 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.51 by $0.04. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the company posted $1.53 earnings per share. The company’s quarterly revenue was up 3.5% on a year-over-year basis. On average, analysts predict that Alaska Air Group will post $5.10 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank downgraded shares of Alaska Air Group from a “buy” rating to a “hold” rating in a research note to investors on Tuesday, October 8th. They now have a $70.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Alaska Air Group from $64.00 to $67.00 in a research note to investors on Tuesday, September 17th. They now have a “neutral” rating on the stock. Finally, analysts at Buckingham Research initiated coverage on shares of Alaska Air Group in a research note to investors on Tuesday, July 23rd. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $67.40.
Alaska Air Group, Inc (NYSE:ALK) is the holding company for Alaska Airlines and Horizon Air.
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